Source : Webster's Revised Unabridged Dictionary (1913)

Savvy \Sav"vy\, Savvey \Sav"vey\, n.
   Comprehension; knowledge of affairs; mental grasp. [Slang, U.
   S.]

Savvy \Sav"vy\, Savvey \Sav"vey\, v. t. & i. [Written also
   {savey}.] [Sp. saber to know, sabe usted do you know?]
   To understand; to comprehend; know. [Slang, U. S.]

Source : WordNet®

savvy
     n : the cognitive condition of someone who understands; "he has
         virtually no understanding of social cause and effect"
         [syn: {understanding}, {apprehension}, {discernment}]
     v : get the meaning of something; "Do you comprehend the meaning
         of this letter?" [syn: {get the picture}, {comprehend}, {dig},
          {grasp}, {compass}, {apprehend}]
     [also: {savvied}, {savviest}, {savvier}]